Central Group acquires Berlin property

Central Group, Thai multinational conglomerate, has entered into an agreement to acquire 100 percent of the KaDeWe department store property in Germany, according to media outlets.

The heritage building on Tauentzienstrasse, Berlin’s most famous shopping street, is being acquired from Signa Prime Selection AG, part of the insolvent Austrian company Signa Group, reported Bangkok Post.

Central said it was optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich, reported Reuters.

The Thai retailer already holds a 50.1 percent majority stake in the group.

“The acquisition of the KaDeWe building is the first important milestone for